THE INTERNATIONAL MONETARY FUND (IMF) will not be calling the shots on the Barbados economy anytime soon.
And while the Washington-based institution has advised the Freundel Stuart Government on a number of measures to bring the tax system in line and to close the burgeoning fiscal deficit, Minister of Finance Chris Sinckler made it clear Barbados would be going with a “home-grown” economic strategy.
Sinckler, who has been under heavy criticism for policies that have resulted in job losses and higher taxes but have failed to produce economic growth, said an external economic programme from the IMF was not needed.
Speaking yesterday during a Press conference at Government Headquarters on Bay Street to address issues in the economy, Sinckler said: “We are not going to the IMF. I don’t think it is necessary. The objectives of the programme that we have set ourselves are not going to be easy or painless, but I know that the alternative that some people are clamouring for will be far worse than they suspect.
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